U.S. Movers: Apple, Google, Mattel, Microchip, Gap, Valmont

Mukesh Buch
14 Oct, 2011
New York City

Google third quarter net income increased 30% to $2.73 billion. Mattel third quarter net income rose to $300.8 million. Valmont third quarter net earnings soared 53% to $42.1 million.

[R]12:10 PM New York – Google third quarter net income increased 30% to $2.73 billion. Mattel third quarter net income rose to $300.8 million. Valmont third quarter net earnings soared 53% to $42.1 million.[/R]

Apple Inc. ((AAPL)) increased 2% or $8.31 to $416.74 after the latest version of its mobile phone iPhone 4S will be available in stores to purchase from today. The phone will available in the U.S., Australia, Canada, France, Germany and Japan.

BancFirst Corporation ((BANF)) increased 4.4% or $1.57 to $36.99 after the bank holding company said third quarter total interest income increased 11.5% to $40.2 million from $36.1 million in the same quarter last year. Net income in the quarter rose to $12.6 million or 81 cents per diluted share compared to $11.8 million or 75 cents per share a year ago earlier.

Google Inc. ((GOOG)) advanced 5.8% or $32.85 to $591.60 after the Internet search engine operator reported third quarter revenues soared 33% to $9.72 billion from $7.29 billion in the same quarter last year. Net income in the quarter increased to $2.73 billion or $8.33 per diluted share compared to $2.17 billion or $6.72 per share a year ago.

J.B. Hunt Transport Services, Inc. ((JBHT)) increased 7% or $2.73 to $41.62 after the transportation service provider reported third quarter revenues grew to $1,171.3 million from $986.0 million in the same quarter last year. Net income in the quarter increased 5.9% to $68.6 million or 57 cents per diluted share compared to $52.2 million or 41 cents per share a year ago earlier.

Mattel, Inc. ((MAT)) decreased 2.2% or 61 cents to $27.17 after the toy products maker stated third quarter net sales increased 9% to $2.0 billion from $1.83 billion in the same quarter last year. Net income in the quarter increased to $300.8 million or 86 cents per diluted share compared to $283.3 million or 77 cents per share a year ago period.

Microchip Technology Inc ((MCHP)) slipped 4.9% or $1.73 to $33.56 after the programmable memory maker expects net sales for second quarter may decline 9.1% sequentially and to $340.6 million compared to earlier estimate between $352 and $370.8. Earnings per share are expected to be approximately 38 cents and 40 cents compared to the previous estimate between 44 cents and 48 cents.

National CineMedia, Inc ((NCMI)) dropped 18.5% or $2.74 to $12.01 after the theater advertising company reaffirmed its third quarter outlook and lowered its full year 2011 revenue outlook.

Revenues are estimated to be in the range of $425 million to $435 million compared to the prior outlook of $460 million to $470 million and operating income to be in the range of $210 million to $220 million compared to prior outlook of $236 million to $246 million.

OPKO Health, Inc. ((OPK)), the pharmaceutical and diagnostics company announced acquisition of Massachusetts based Claros Diagnostics, Inc. and completed sale of its ophthalmic instrumentation business to Optos plc for $17.5 million in cash and agreed to pay future royalties.

The Gap Inc. ((GPS)) fell 0.9% or 17 cents to $17.75 after the specialty retailer said it will shutter at least 21% of its GAP branded stores in the U.S. and reaffirmed its goal of growing total sales outside North America and online by about 30% by the end of fiscal 2013.

Valmont Industries, Inc. ((VMI)) slumped 5.3% or $4.83 to $85.44 after the fabricated metal products maker stated third quarter sales surged 27% to $672.2 million from $527.8 million in the same quarter last year. Net earnings in the quarter soared 53% to $42.1 million or $1.59 per diluted share compared to $25.9 million or $0.98 per share a year ago quarter.

Webster Financial Corporation ((WBS)) decreased 4.2% or 77 cents to $17.45 after the bank and financial holding company said third quarter total interest income fell to $173.3 million from $176.3 million in the same quarter last year. Net income in the quarter soared to $41.5 million or 45 cents per diluted share compared to $17.8 million or 22 cents per share a year ago earlier.